Magna International Inc. (NYSE:MGA) Given Consensus Rating of “Hold” by Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average rating of “Hold” by the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $54.00.

Several research firms have commented on MGA. Bank of America lowered their price target on shares of Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Evercore ISI lowered their price target on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. National Bankshares lowered their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of Magna International from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Wells Fargo & Company lowered their target price on shares of Magna International from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th.

Magna International Price Performance

Shares of MGA opened at $43.53 on Wednesday. The firm has a market capitalization of $12.51 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The company’s fifty day moving average price is $43.69 and its 200-day moving average price is $49.57.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. During the same period last year, the firm earned $1.11 earnings per share. Magna International’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Magna International will post 5.71 EPS for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.36%. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in shares of Magna International during the 2nd quarter worth about $308,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Magna International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the last quarter. LRI Investments LLC acquired a new stake in Magna International in the 1st quarter valued at about $36,000. Finally, Russell Investments Group Ltd. raised its holdings in Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.